Online retailer Newegg today
announced plans to go public, filing for a $175 million IPO,
according to an SEC
filing.

Newegg is best known as a technology e-tailer, but
has expanded of late to include other consumer electronics.
Since launching in 2001, the company has been profitable every year,
with $2.1 billion in sales in 2008. In 2007, the company saw
$1.9 billion in sales, with the number expected to increase as Newegg
expands its business.

The company has seen dramatic success
after making changes to support small- and medium-sized businesses in
the United States. Newegg also has its sights outside the
United States, with China expected to be an important step in the
company's continued expansion. Furthermore, Canada
also is expected to be a big market for Newegg, with many
Canadians long requesting to be able to make purchases from the
site.

The company does have to deal with several issues in the
immediate future, including a patent infringement lawsuit filed by
Soverain Software, according to the IPO registration filing. If
Soverain is successful in getting an injunction against Newegg, the
company may be forced to "stop or alter certain of our business
activities."

In the future, Circuit City -- although its
physical stores went bankrupt, a liquidator purchased the company's
online business and keeps it running -- will lead
the charge of online businesses that aim to derail Newegg.

The
IPO will be handled by Citi, JP Morgan, and the Bank of America, with
Newegg's largest shareholder, Insight Venture Partners, also
completing another IPO earlier in the year.

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